The Sensex regained the psychological 18,000-mark a day after falling below that level on Monday. The S&P CNX Nifty regained the 5,400-mark.

The market surged in early trade as bargain hunting emerged after a recent steep slide. The market pared some of the gains later.

The BSE benchmark Sensex resumed higher at 18,016.43 and hovered in a range between 18,109.05 and 17,996.34 before quoting at 18,068.38 at 1015 hours, showing a net gain of 75.05 points, or 0.42 per cent.

The NSE 50-share Nifty also moved up by 15.05 points, or 0.28 per cent, to 5,401.60 at 1015 hours from its last close.

Major gainers from the Sensex pack were L&T (1.74 per cent), BHEL (1.67 per cent), ICICI Bank (1.42 per cent), Maruti Suzuki (1.31 per cent), HDFC (1.13 per cent) and RIL (1.01 per cent).

Many Asian equities reversed their initial losses on Thursday. The key benchmark indices in Hong Kong, Indonesia, Japan, Singapore and South Korea rose by between 0.06 per cent and 0.17 per cent. The key benchmark indices in China and Taiwan fell by between 0.08 per cent and 0.25 per cent.

Trading in US index futures indicated that the Dow could gain 21 points at the opening bell today.